Referral for Real Estate agent?
Looking for experienced buyer’s agent. Is it reasonable to expect a buyer’s refund (à la Redfin) or seller’s concessions towards closing costs in this market? #bayArea
For selling or buying?
Michael Quintana (408) 449-1407
Go directly with the seller’s agent. Higher chance of getting house plus get discounts. Get your own inspectors. Don’t get advice from agent. Research on your own. Good luck.
Although then why pay an agent 3% when you’re doing all the work??
The selling agent decides the commission- usually 5 or 6% - and then splits that commission 50/50 with the buying agent. If you go with the selling agent and do some work on your own, you may be able to convince him to lower the fee and this the price. However, it’s a clear conflict in interest for one agent to represent both parties. Only shady agents will do this. Ethical ones will refer you to someone else and get a referral fee.
^ true. That’s my concern with having the same agent as the seller for a specific house. We can never be sure if they have our best interest during negotiation. Does the agent ever look into their/other agents sell inventory and show the buyer around before the public open house?
MHwy71, in this market a buyer’s agent wins because of their excellent interpersonal skills and making your offer the most attractive all the while painting you as the picture perfect buyer so the sellers and sellers’ agent feel biased towards you and your agent. Having gone from Aerospace Engineering to Real Estate, this industry is often not as logical or clear cut as we’re used to seeing things. Additionally, An agent who promises you 40% of their commission as “rebate” will most likely make you pay higher for the home, so they can walk away with a decent paycheck. Remember buyers are not paying for their agent, but negotiating their piece of the cake with them discourages them to fight for you at their fullest potential. I specialize in the Tri Valley Area and along the 680 corridor. PM for more details.
Don’t listen to anyone who is throwing names out here right now. Bay Area is big enough that it would help to make recommendations AFTER knowing which part of the Bay Area you are looking (SF, Marin, peninsula, South Bay, trivalley, east bay). If you want someone with strong knowledge and connections, you need to get more local. Good agents who have clients rarely need to serve across the entire Bay Area (nor should they since it dilute their expertise). So yeah, figure out where you are looking, then maybe see who made sales as buyer agent in your price range in those areas (you can easily find this via redfin), then reach out to them. Often there are names that would come up repeatedly if they are reputable. Be skeptical of random names thrown out to you. Remember, you want someone who can GET you the house in your area of interest, so they better have track records already. Be skeptical about “friend’s friend or your aunt’s son is a agent” type of referrals. They often don’t turn out well and you are stuck can’t fire them. Do your own work. Good luck. Source: someone who works in real estate
Check out what happened in Seattle https://www.seattletimes.com/business/real-estate/lawsuit-eastside-realtor-and-developer-conspired-to-inflate-home-prices-for-foreign-buyers/
Oh wow.
This kind of shadiness happens all the time, agents don’t deserve 3%
Shopprop.com baby, Rob is amazing, makes the most sense when buying a new home , you will get majority of the commission/ rebate back Someone on another thread on blind recommend shopprop I used them in Fremont and my friend used them for his purchase in Seattle
You can either get experience or a discount. The agents who are good, don’t give discounts.
Ben pridgeon